P2 Energy Solutions Acquires Leading Canadian Land Software Firm

DENVER, April 1, 2011 /PRNewswire/ -- EXPLORER™ Software Solutions Ltd., the leading oil and gas land management software company in Canada, has been acquired today by P2 Energy Solutions, a technology company that provides a comprehensive range of software, land management tools, and outsourcing, to the energy industry.

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The acquisition boosts P2 Energy Solutions' market leadership in global Land Management to over 350 clients that use P2 land management products. EXPLORER Software Solutions will be combined into P2's Calgary operations.

"EXPLORER's long tradition of serving this important market will create tremendous value to our combined client base," said P2 Energy Solutions' President and CEO Bret Bolin. "By adding a great team and a tremendous client base to the P2 family, this strategic purchase enhances our ability to continue offering market leading solutions for this critical client process."

"This acquisition provides us a broad client foundation to continue to innovate and add value through delivery flexibility, feature enhancement, and utility with other P2 capabilities such as reporting and analytics."

EXPLORER's flagship product, CS*EXPLORER, is a fully integrated and process critical, land management application that supports over 130 clients in the Canadian marketplace.  P2 plans to offer an online version of CS*EXPLORER that allows oil and gas companies to avoid the traditional infrastructure costs associated with land management software solutions. When introduced later this year, the online version will deliver all the traditional capabilities of CS*EXPLORER along with enhanced reporting and analytics, maintenance, and continued feature updates.

"P2's focus on building the right team and combining the right solutions to create client value aligns perfectly with our vision," said John Pullar, CEO of EXPLORER Software Solutions. "This acquisition is truly a win-win for all involved. Our people, clients, and overall marketplace will see tremendous upside and continued opportunity."

P2 Energy Solutions sells a broad range of financial, accounting, asset, and land management products in Canada including Qbyte PRISM™, Qbyte Metrix™, Qbyte Petro-LAB™, and Qbyte Land™. The acquisition delivers a product suite that is ideal for exploration and production companies of any size, from start-ups to Canadian majors, by combining expanded land management capabilities with the proven online financial management and production accounting solutions from P2.

About P2 Energy Solutions

P2 Energy Solutions is the only technology company that provides a comprehensive range of software, land management tools, and outsourcing, to the energy industry. More than 720 top global energy companies use P2 products and services daily to improve decision-making, gain clarity into complex workflow scenarios, and optimize upstream efficiency.  P2 serves the entire energy sector -- including hydrocarbon-sourced, as well as alternative-sourced energy, including solar, wind, hydro-, and geothermal. With more than 80 years of experience in data and 30 years in software P2 operates from headquarters in Denver, CO, has offices in six locations including Houston, TX, and Dubai, UAE, and employs 600 people.  For additional information, visit: www.p2energysolutions.com.

Qbyte, Qbyte PRISM, Qbyte Metrix, Qbyte Petro-LAB, Qbyte Land, and CS*EXPLORER are trademarks of P2 Energy Solutions.

SOURCE P2 Energy Solutions